• dfc09@lemmy.world
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    11 months ago

    My biggest head scratcher now that I’ve bought a house is “huh, my mortgage is locked in now, no matter what the market does… Why did rent keep going up if my landlord’s mortgages were locked in?”

    I honestly don’t have a good answer, I could be looking at something perfectly explainable. But to me it seemed like they raised rent not because costs went up, but because they could. Why not. Everybody else is doing it.

    • Morcyphr@lemmy.one
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      11 months ago

      Mortgages are locked in. Taxes, insurance, utilities, maintenance/upkeep are not. All of those things have increased since I bought my house a year ago. Rental properties experience the same thing.

      • afraid_of_zombies@lemmy.world
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        11 months ago

        My landlord’s taxes went down, I pay for utilities, not sure about insurance, as for upkeep I will let you know when I see that happening.

        • Morcyphr@lemmy.one
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          11 months ago

          Property taxes went down? I doubt that. As far as upkeep, if the furnace goes out, who pays for that? The property owner. That’s what I meant.

          • afraid_of_zombies@lemmy.world
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            11 months ago

            We got federal money for Covid and the commerical sector is doing well. Pretty sure the furnace is fine, but it isn’t like I have lived here for multiple years.

    • MasterOBee Master/King@lemmy.world
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      11 months ago

      My biggest head scratcher now that I’ve bought a house is “huh, my mortgage is locked in now, no matter what the market does… Why did rent keep going up if my landlord’s mortgages were locked in?”

      Property taxes, market rate, costs to repair and maintain, interest rates increasing. How much money, beyond your mortgage, have you spend on your house since you moved in?